After the close with Allan
Relatively speaking, markets calmed down on Tuesday following Monday’s rout that saw sharp losses, particularly in tech. The S&P finished -0.22%, the Nasdaq was flat, and the Dow was -0.47%. Oil led gains as WTI continued to surge, rising 3.5% […]
The trading week began in the red as major averages in New York and Toronto sank into the red. Fears of the U.S. Fed’s Jay Powell announcing a hawkish interest rate hike later this year triggered a steep sell-off on […]
Hawkish signals from the U.S. Fed in recent days that it will hike interest rates pressured stocks on Friday. The S&P closed the session -1.29% and 1.2% for the week, the Nasdaq -2.% and -2.7% for the week, and the […]
It was a typically quiet summer session on Thursday which saw the major indices on Wall Street as well as the TSX climb modestly into the green. The S&P closed 0.24%, the Nasdaq 0.21%, and the Dow was flat. Crude […]
After several days of gains in Toronto and New York, markets on Wednesday struggled to extend their winning streak. The S&P closed -0.72%, the Nasdaq -1.25%, and the Dow -0.51%. Crude oil rose on signs of strong demand with WTI […]
Earnings by American retailers helped lift American stocks, while the TSX managed to gain despite the ongoing decline in crude oil prices. In New York, The S&P added 0.19% and the Dow 0.71% while the Nasdaq closed -0.19%. Noteable gainers […]
The week began with surprisingly weak economic data from China and an announcement to raise their interest rates which took many by surprise. Crude oil prices immediately sank with WTI falling 3.35% below $89 and WCS sliding 4% below $70. […]
Following lighter-than-expected inflation numbers earlier this week, U.S. consumer data released on Friday showed growing optimism. Though volumes were at typically quiet August levels, Wall and Bay street rallied and closed on strength during the session. The TSX added nearly […]
Oil rose Thursday after the IEA hiked its demand growth forecast for 2022. WTI added 2.4% to $94 while WCS jumped 3.5% to $74. Oil as well as consumer staples helped lift the TSX by 0.53% to close just shy […]
On Wednesday, July’s American inflation rate clocked in at 8.5%, lower than the expected 9.1%. The lower figure triggered a rally on both sides of the border and lifted all sectors. The S&P jumped 2.13%, the Dow 1.55% and the […]
Tuesday saw tech stocks on both sides of the border weigh on markets. The TSX retreated 0.46% due to weakness in consumer staples and tech, though materials and utilities were in the green. The latest earnings sank Nuvei by 21.44% […]
A surge in materials, real estate and utilities lifted the TSX Monday by 0.37%. Capstone Copper jumped 15.67%, but cannabis soared after a U.S. senator hinted at marijuana reforms that would make lending to such companies easier. As a result, […]
Friday saw the latest jobs numbers released in Canada and the U.S., but a mixed picture in stocks. Canada modestly lost jobs in July, and the TSX ticked down 0.09%, though gained 0.41% for the week despite weakness in crude […]
Thursday saw the price of crude oil continue to slide after OPEC announced a modest output increase. WTI fell below $90 (for the first time since Russia invaded Ukraine) to trade around $88.40. Meanwhile, WCS plunged 3.5% to $69. Naturally, […]
U.S. economic data on Wednesday triggered a convincing rally led by tech. The ISM Services PMI hit 56.7% in July in a surprise jump from June’s 55.3%, indicating that supply chain slowdowns are easing. Also, the St. Louis Fed said […]
Nancy Pelosi’s visit to Taiwan and China’s announcement of missile tests rattled markets on Tuesday and pressured stocks. The TSX shed nearly 1% and finished weak. Similarly in New York, the S&P closed -0.66%, the Nasdaq -0.16% and the Dow […]
With the TSX closed for the holidays, the American indices saw a choppy session to usher in August on Monday. The indices closed down by 0.14% to 0.28% with oil weighing down the most. Financials were also weak, though consumer […]
Friday saw stocks extend gains of recent days to end a positive week and month. The TSX rose 1.31% for the day or 3.7% for the week and slightly more in July. Meanwhile, the S&P closed on Friday up 1.42%, […]
After initial weakness, Thursday’s markets in Toronto and New York climbed and stayed positive throughout the session to extend Wednesday’s gains. Dovish comments by the U.S. Fed’s Jay Powell triggered a surge in stocks late Wednesday. On Thursday, the New […]
Wednesday markets soared on the latest announcement by U.S. Fed chair, Jay Powell, and more earnings reports by big tech stocks. As expected, Powell hiked U.S. rates by 75 basis points and unsurprisingly declared that the next hike will be […]
Tuesday was a rough day for retail stocks, both brick-and-mortar and e-commerce, and pressured stocks in Toronto and New York. Walmart announced downbeat guidance for the rest of the year by lowering its profit outlook, blaming rising food and gas […]
The week began in a relatively quiet tone as investors, particularly on Wall Street, await key earnings and the U.S. Fed’s next interest rate announcement later this week. The S&P closed up 0.13%, the Nasdaq -0.43% and the Dow 0.28% […]
Stocks drifted south on Friday, but still ended the week positive. The S&P closed -0.93% but rose around 2.5% for the week. The Nasdaq finished -1.87% but has climbed 7% so far this month. Meanwhile, the Dow closed -0.43% but […]
U.S. earnings continued to fuel this week’s rally even as oil fell on Thursday. Closing on strength, the S&P rose nearly 1%, the Dow half that and the Nasdaq 1.36%. Energy lagged while tech thrived. Tesla released earnings the day […]
Wednesday’s markets began tentatively but eventually extended Tuesday’s rally amid key U.S. earnings. In New York, the S&P was up 0.59%, the Nasdaq 1.58 and the Dow 0.16%. Tech and consumer discretionary fueled the surge while healthcare and utilities lagged. […]
